The median price of a Single Family Home in Las Vegas is hovering right around $140,000 right now.

WHAT?!

Yes, you read that right, $140K!

I haven’t seen values like this in the valley in, well, almost 12 to 15 years or so….  Crazy,  right?

And there are A LOT of homes that are listed far below this median price (primarily bank-owned properties/ foreclosures).

So, with that said, here is this weeks installment of  Heidi’s Monday Madness.  My pick for the Smokin’ Hot Deal of the Week:

Located off of Rainbow Blvd. and Tropicana in Spring Valley, my pick for the week is a 1,484 sq. ft. home built in 1976.

The home is bank owned, and listed at the low, low price of $64,900.   Only $44.00 per foot!!!

In March of 2005, this very home sold for $252,000!

Although the list price is UNBELIEVABLE, it will more than likely sell for a much higher price. As with most bank-owned’s here in Las Vegas, we are seeing the banks list them at super-duper values in hopes of “bidding the house up” and ultimately selling at a higher price.  Most of these homes are receiving multiple offers, with the lender/banks countering with the verbiage “bring your highest and best offer”.

As with just about every bank owned property (and short sale), this home is being sold “as-is”; the bank will not make any repairs, nor , in most instances, allow concessions for these.

Have a Question or thought about my Home-Pick of the week?  Thinking about Buying or Selling a Home in the Greater Las Vegas Valley?  Give me a call or email!

Talk Soon,

Heidi Griffith
Your Las Vegas Realtor ®
Realty One Group
702-540-0420

E-Mail Heidi

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